Current home values in Colorado

Home values have been rising throughout Colorado and are up 4.2% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $993,715, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in Colorado: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $993,715 home at 3.33% would give a typical Colorado homebuyer a monthly payment of $3,495, assuming a 20% down payment.

How the Colorado housing market stacks up

Family wearing ski gear
amyrenee40k / Twenty20
Colorado families can enjoy skiing for a day outside of big cities

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Colorado, they're predicted to rise 5%.

Homes right now are going on the market in Colorado at a median price of $212 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Colorado home prices over the last 10 years

Year Avg. Price
2020* $407,140
2019 $390,700
2018 $375,842
2017 $351,058
2016 $321,000
2015 $286,692
2014 $255,242
2013 $235,908
2012 $219,300
2011 $212,642
2010 $220,892
2009 $224,342

*2020 price average through March 31, 2020.

How much for an average-sized home?

Here's what a 2,500-square-foot home in Colorado is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $530,749
2019 $620,000
2018 $592,500
2017 $555,000
2016 $507,500
2015 $462,500
2014 $407,500
2013 $377,500
2012 $347,500
2011 $335,000
2010 $350,000
2009 $352,500

*2020 price average through March 31, 2020.

About the Author

Doug Whiteman

Doug Whiteman

Editor-in-Chief

Doug Whiteman is the editor-in-chief of MoneyWise. He has been quoted by The Wall Street Journal, USA Today and CNBC.com and has been interviewed on Fox Business, CBS Radio and the syndicated TV show "First Business."